The invention provides a baking powder. The baking powder contains silicon processed talcum powder, nylon powder, magnesium aluminosilicate, a xanthan gum, mica powder, silica, polydimethylsiloxane, triglyceride, a coloring agent, ethylhexyl glyceride, sodium benzoate and monoglyceride. The invention also provides a preparation method of the baking powder. The baking powder is suitable for making makeup products comprising eye shadow/pressed powder/rouge/bronzer powder and the like. The baking powder made through adopting the method solves technical problems comprising insufficient coloring brightness, low pearlescent application amount, insufficient resplendent effect, bad color saturation, and bad luster brightness of the baking powder made through a routine method. In the invention, large amounts of pearlescent powder and mica can be added, so the color is bright, the pearlescent effect is resplendent and stereo, and the baking powder is close to skins; and the baking powder made through the method provided by the invention is better than the baking powder made through the routine method in appearance structure, color saturation, luster brightness, powder condensation, and break and shake resistances.